盘面上，可控核聚变概念掀涨停潮，融发核电、上海电气、国光电器、合锻智能、中洲新材、万里石、 中国核建、哈焊华通、中核科技、永鼎股份、安泰科技等近20股涨停；贵金属概念集体大涨，黄金方向 领涨，四川黄金、山东黄金、中金黄金、西部黄金等涨停；白银有色、江西铜业、云南铜业、西部矿 业、北方铜业、北方稀土、洛阳钼业等涨停；AMD概念表现活跃，世嘉科技、奥士康、金海通、深南 电路、通富微电等涨停；存储概念异动拉升，太极实业、大为股份、深科技等涨停；下跌方面，影视、 旅游概念跌幅居前。 10月9日，A股市场三大指数集体收涨，截至收盘，沪指报3933.97点，涨1.32%；深证成指报13725.56 点，涨1.47%；创业板指报3261.82点，涨0.73%。总体来看，个股涨多跌少，上涨个股超3100只。沪深 两市全天成交额2.65万亿元，较上个交易日放量4700亿元。 ...

Group 1: Market Performance - The three major indices experienced upward fluctuations, with the Shanghai Composite Index rising by 1.32%, the Shenzhen Component Index by 1.47%, and the ChiNext Index by 0.73% as of the market close on October 9 [2] - Over 2,900 stocks in the two markets saw gains, with a total trading volume of approximately 2.65 trillion yuan [2] Group 2: Precious Metals Sector - The precious metals sector showed strong performance, with notable increases in stocks such as Xiaocheng Technology, Western Gold, Chifeng Jilong Gold, and Shandong Gold [2] - A report from Western Securities indicated that the ongoing expansion of credit cracks in the US dollar could lead to a long-term bull market for gold, with the current phase being the early stage of the third wave of a major upward trend [2] Group 3: Controlled Nuclear Fusion Concept - The controlled nuclear fusion concept saw a collective surge, with stocks like Zhongzhou Special Materials and Western Superconducting rising by 20% [2] - A key breakthrough was reported in the construction of the compact fusion energy experimental device BEST in Hefei, Anhui, marking a new phase in the project's main engineering construction [2] Group 4: Copper and Basic Metals - The basic metals and copper sectors performed strongly, with companies like Luoyang Molybdenum and Northern Copper rising by 10% [3] - CITIC Securities noted that the accelerated decline of the US dollar's credit and the increasing demand for copper due to the expansion of power infrastructure for AI support are driving copper prices above $10,500 per ton [3] Group 5: Semiconductor Sector - The semiconductor sector showed robust performance, with companies like Huahong Semiconductor and Chipone Technology rising over 12% [4] - The AI industry chain experienced significant catalysts during the National Day holiday, including a multi-billion dollar chip procurement agreement between AMD and OpenAI, boosting investor confidence in the tech growth sector [4] Group 6: Weak Sectors - The film and tourism hotel sectors faced declines, with Huace Film and Television dropping over 13% and Light Media falling over 10% [4] - The liquor and real estate sectors also weakened, with companies like Shenzhen Properties and Kweichow Moutai experiencing notable declines [4]

Market Performance - The A-share market opened positively after the holiday, with the Shanghai Composite Index rising by 1.32%, reaching its highest level since August 2015 [2] - The Shenzhen Component Index increased by 1.47%, while the ChiNext Index rose by 0.73% [3] - A total of 100 stocks hit the daily limit up, and over 3100 stocks experienced gains [5] Sector Performance - The non-ferrous metals and nuclear power sectors saw significant gains, while the semiconductor industry experienced a notable decline in the afternoon [5] - The real estate, tourism, and film sectors generally fell [5] Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 2.65 trillion yuan, an increase of 471.8 billion yuan compared to the previous trading day [5] Capital Flow - Major capital inflows were observed in the non-ferrous metals, power equipment, and computer sectors, while there were outflows from the securities, automotive, and semiconductor sectors [7] - Specific stocks with net inflows included ZTE Corporation, Northern Rare Earth, and Hikvision, with inflows of 3.028 billion yuan, 2.658 billion yuan, and 1.361 billion yuan respectively [7] - Stocks with net outflows included Seres, SMIC, and Sungrow Power, with outflows of 2.52 billion yuan, 1.996 billion yuan, and 1.796 billion yuan respectively [7] Institutional Insights - CITIC Securities indicated that heavyweight stocks are driving the index higher, and the market is expected to continue its upward trend in the fourth quarter [8] - Guodu Securities noted that the overseas equity markets experienced a general rise during the National Day holiday, and the foundation for the current slow bull market remains intact [8] - The focus remains on the technology sector, with expected differentiation within the sector, emphasizing the importance of capturing high-growth areas [8] - Guojin Securities projected accelerated capital expenditure during the 14th Five-Year Plan, highlighting the active potential of the controllable nuclear fusion industry chain [8]

10月9日午后，A股三大指数保持涨势。截至收盘，沪指涨1.32%站稳3900点，深成指涨1.46%，创业板 指涨0.73%。市场总成交额2.67万亿，全市场超3100股上涨，共有99只个股涨停。 记者丨庞华玮 李益文 见习记者林健民 编辑丨巫燕玲 谭婷 江佩霞 金珊 板块方面，核电概念股集体大涨掀起涨停潮，有色金属板块活跃，影视院线概念股重挫，半导体芯片股 午后跳水，其中，早盘一度涨停的华虹公司出现炸板，收涨12.04%，中芯国际翻绿，其早盘曾涨超 9%，港股中芯国际跌近7%。 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3933.97 | 13725.56 | 1525.81 | | +51.20 +1.32% +199.05 +1.47% -2.82 -0.18% | | | | 科创20 | 创业板指 | 万得全A | | 1539.08 | 3261.82 | 6431.96 | | +43.79 +2.93% +23.66 +0.73% +83.02 +1.31% | | | | 沪深300 | 中证500 | 中证A500 | | 4709.48 | ...

成交金额方面，沪市成交金额12168.89亿元，深市成交金额14363.13亿元，两市合计成交金额约2.65万 亿元。 前海开源基金首席经济学家杨德龙表示，上证指数突破3900点整数关口，创出逾十年新高，市场的赚钱 效应突出。本轮行情的一个突出特点是科技牛行情，代表新质生产力的科技创新板块出现大幅上涨，而 传统板块的表现则相对落后。 北京商报讯（记者 马换换 王蔓蕾）10月9日，A股三大股指集体高开，开盘后，上证综指、深证成指震 荡走高，其中上证综指盘中涨超1%，触及3936.58点的高点，创下逾十年以来新高；创业板指当日冲高 回落。截至收盘，上证综指、深证成指、创业板指分别收涨1.32%、1.47%、0.73%，分别报3933.97点、 13725.56点、3261.82点。另外，当日科创50指数冲高回落收涨2.93%，报1539.08点。 盘面上，贵金属、可控核聚变板块全天强势，黄金概念板块涨幅居前，板块内西部黄金（601069）、四 川黄金（001337）、山东黄金（600547）等多股涨停。旅游酒店、房地产服务、旅游概念等板块跌幅居 前。 个股方面，A股3115股飘红，其中99股涨停，另外，2186股 ...

Market Overview - A-shares maintained an upward trend on October 9, with the Shanghai Composite Index rising by 1.32% to stabilize above 3900 points, the Shenzhen Component Index increasing by 1.46%, and the ChiNext Index up by 0.73% [1] - The total market turnover reached 2.67 trillion yuan, with over 3100 stocks rising and 99 stocks hitting the daily limit [1] Nuclear Fusion Sector - The controllable nuclear fusion sector experienced a collective surge, with stocks like Changfu Co. and Western Superconducting hitting the daily limit [2] - The driving force behind this rally is a recent "milestone" achievement in China's nuclear fusion field, specifically the successful delivery and installation of a key component for the BEST project in Hefei [2] - The commercialization path for nuclear fusion technology is becoming clearer, with global investments expected to exceed $7.1 billion in 2024, indicating a potential acceleration in capital expenditure during the 14th Five-Year Plan period [3] Film and Entertainment Sector - The film and cinema sector faced significant declines, with major companies like Hengdian Film and China Film hitting the daily limit down [4] - The total box office for the 2025 National Day holiday was 1.835 billion yuan, lower than the 2.734 billion yuan in 2023 and 2.104 billion yuan in 2024 [5] - The average ticket price during this year's holiday dropped to 36.6 yuan, the lowest in nearly seven years, with total attendance decreasing to 50.07 million, down approximately 202,000 from 52.09 million in 2024 [6] Economic Insights - Economists attribute the underperformance of this year's National Day box office to a combination of diversified consumption scenarios and a decline in film quality, with alternative entertainment options drawing audiences away from cinemas [7] - The current market outlook suggests that the A-share market may continue to rise post-holiday, driven by policy and liquidity factors, with a focus on technology sectors [8][9]

Market Performance - On the first trading day of October, A-shares saw a significant rise, with the Shanghai Composite Index surpassing 3900 points for the first time in ten years, closing at 3933.97 points, up 1.32% [1] - The Shenzhen Component Index increased by 1.457%, while the ChiNext Index rose by 0.73%, and the STAR Market 50 Index surged by 2.93% [1][2] - The total market turnover reached 2.67 trillion yuan, an increase of 474.6 billion yuan compared to the previous trading day, with over 3100 stocks rising and nearly 100 stocks hitting the daily limit [1] Sector Performance - The precious metals sector experienced a surge, with gold stocks hitting the daily limit due to rising international gold prices during the National Day holiday [3] - The controlled nuclear fusion sector also saw significant gains, with Guoguang Electric hitting the daily limit with a 20% increase following recent milestone progress in the field [3] - The rare earth sector rose due to export controls imposed by the Ministry of Commerce on related overseas items, leading to multiple stocks, including Northern Rare Earth, hitting the daily limit [3] - Other sectors such as small metals, non-ferrous metals, lithium mining concepts, and superconducting concepts also performed well [3] Declining Sectors - The tourism and hotel sector faced declines, with daily per capita consumption dropping by 13% year-on-year during the holiday, leading to a more than 8% drop in Caesar Travel [3] - The real estate service sector also saw a downturn, with Huangting International hitting the daily limit down [3] - The film and entertainment sector weakened due to lower box office performance during the National Day holiday compared to the previous year, resulting in stocks like China Film and Hengdian Film hitting the daily limit down [3]

Core Insights - Significant progress has been made in China's controllable nuclear fusion sector, with the successful development and delivery of the key component, the Dewar base, for the compact fusion energy experimental device (BEST) [1][3] - The BEST project is expected to complete construction in two years and aims to demonstrate fusion energy generation for the first time globally [3] - The nuclear fusion sector is gaining momentum due to supportive government policies and increasing participation from private enterprises, which may accelerate the commercialization process [4] Industry Developments - The BEST device utilizes compact high-field superconducting tokamak technology and aims to pave the way for future nuclear fusion power generation [3] - Since 2025, China has achieved several breakthroughs in controllable nuclear fusion, including the EAST device reaching 1 million degrees Celsius for 1066 seconds and the successful operation of the "Chinese Circulation No. 3" [3] - The recent implementation of the "Atomic Energy Law" encourages research and development in controlled thermonuclear fusion and establishes a management system tailored to fusion applications [4] Market Potential - The global nuclear fusion market is projected to reach $496.55 billion by 2030, with a compound annual growth rate of 7.4% from 2024 to 2030 [4] - The commercialization of controllable nuclear fusion is viewed as a potential solution to energy challenges, with the possibility of creating a trillion-dollar market and accelerating industrialization in upstream and midstream sectors [4] Company Activities - Companies like Hezhong Intelligent and Yongding Co. are actively involved in the development of core components for the BEST project, with Hezhong Intelligent focusing on the vacuum chamber and Yongding Co. making advancements in superconducting materials [5] - West Superconducting has developed engineering production technology for NbTi superconducting wire for fusion applications, achieving significant milestones in material production [5] - The recent surge in the controllable nuclear fusion concept has led to a notable increase in stock prices for related companies, with the controllable nuclear fusion concept index rising by 6.9% [6]

Market Analysis - Global capital markets have shown significant increases during the holiday period, particularly in gold, US stocks, and copper, driven primarily by AI narratives [2] - The A-share market has returned to 3900 points after 10 years, with technology stocks being the main upward momentum, heavily influenced by external market sentiment and capital flow [2] - The continued rise of indices indicates signs of capital returning before the holiday, with October expected to be a competitive month for individual stocks [2] Gold Market Insights - Three anchors for gold pricing have been identified: reserve value, consumption value, and trading value [2] - With the ongoing expansion of dollar credit cracks, a long-term bull market for gold is anticipated, as the demand for gold is expected to grow [2] - By 2025, domestic gold jewelry companies are expected to see sales increases and performance improvements [2] Sector Performance - The gold concept stocks opened significantly higher, with several stocks reaching their daily limit, reflecting strong market interest [3] - The semiconductor sector is also active, with AMD's partnership with OpenAI leading to a notable increase in AMD's stock price [4] - Solid-state battery concept stocks have shown strong fluctuations, driven by advancements in battery technology [5] Index Performance - The Shanghai Composite Index has shown a strong upward trend post-holiday, with a focus on whether it can maintain above 3950 points [9] - The ChiNext Index has reached new highs, with technology stocks being the primary drivers, although the performance remains characterized by rotation rather than collective surges [9] Investment Outlook - The consensus among broker reports indicates a positive macro environment for A-shares following the holiday, with a focus on resource and AI sectors [15] - The long-term logic supporting gold's continued rise is centered around the restructuring of the global monetary credit system, with gold being viewed as a stabilizing asset during economic turbulence [15] - The ongoing accumulation of US debt poses risks to monetary credit, further enhancing gold's appeal as a safe-haven asset [16]

10月9日，A股节后开门红，截至收盘，上证指数收涨1.32%，刷新2015年8月以来新高；深证成指涨 1.47%，创业板指涨0.73%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 3 | 3933.97 | 51.20 | 1.32% | | 399001 | 深证成指 | nov | 13725.56 | 199.05 | 1.47% | | 399006 | 创业板指 | row | 3261.82 | 23.66 | 0.73% | | 000688 | 科创50 | participal | 1539.08 | 43.79 | 2.93% | 盘面上，有色金属、核电板块上演涨停潮。半导体产业链午后明显回落，地产、旅游、影视板块普遍下 挫。 沪深两市成交额2.65万亿，较上一个交易日放量4718亿。全市场超3100只个股上涨。 主力资金全天净流入有色金属、电力设备、计算机等板块，净流出证券、汽车整车、半导体等板块。 具体到个股来看，中兴通讯、北方稀土、海康威视获净流入 ...